INVESTMENT: The Arabs Are Coming

An embargo may still be keeping Arab oil out of the U.S.but not the
gigantic amounts of investment capital that the Arab countries are accumulating
by selling that oil elsewhere. Over the years, the Arabs have piled up American holdings
estimated to be $10 billion to $15 billion. Now such thinly populated countries as
Kuwait, Saudi Arabia and the Persian Gulf sheikdoms are pulling in more
money through oil-price boosts than they can possibly absorb at home,
and are channeling still more cash into the U.S.

The money is being placed discreetly, without publicity, in outlets that
draw...